Highlights
- I know Warren Buffett has raised a record amount of cash in his portfolio, and I know that similar moves in the past have eventually been followed by severe bear markets.
- The key word here is "eventually", as his defensiveness, while prescient in hindsight, has often suffered mightily in foresight...he has often been more than a year early.
- I also know that our Risk Gauge remains firmly in the bull camp, and that it. . .
